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Item 23 - Pension Debt Refinancing Update and Underwriter Selection
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Item 23 - Pension Debt Refinancing Update and Underwriter Selection
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4/9/2024 4:32:45 PM
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City Clerk
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Agenda Packet
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Clerk of the Council
Item #
23
Date
5/18/2021
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(9)CITY OF SANTA ANA <br />xii. An acknowledgement by signature that the signer is authorized to <br />contractually bind the firm. <br />xiii. Any pending legal actions and litigations against the firm. Legal actions <br />against the firm in the previous five years shall be included. <br />4. Pension Obligation Bond Experience <br />Describe the firm's and selected personnel's experience within the last thrity-six (36) <br />months regarding the issuance of Pension Obliagtions Bonds. Please include but not <br />limited to the following items: <br />i. Name of Municipality or District <br />ii. Amount of Debt Issuance <br />iii. Par amount of debt issued <br />iv. umber of underwriters within the engagement - if multiple underwriters, <br />indicate if co or senior <br />5. Distribution Capabilities <br />i. Proposers shall provide a brief summary of their firm's fixed income marketing and <br />distribution capabilities, specifically taxable municipal bonds. Description of <br />firm's corporate bond sales and trading capabilities shall include, but not be <br />limited to the following: Number of sales and trading personnel <br />ii. League tables/rankings <br />iii. Personnel assigned to sell taxable municipal bonds <br />6. Structuring Ideas and Marketing Plan for Proposed Debt Issuance <br />Provide a brief summary of your specific structuring ideas including the assumptions of <br />which CalPERS UAL bases to fund the maximize savings based on the two scenarios <br />described above. <br />Describe how Proposer would lead the transaction as a senior manager. Specifically, <br />provide your strategies and approaches to help ensure the transaction is executed <br />efficiently. <br />7. Cost Proposal <br />Provide an estimate of your total, not to exceed, underwriting costs associated with <br />serving as senior manager to the City on a not -to -exceed approximately $671 million <br />issue of fixed rate POBs. Please note that any payment to the underwriter is contingent <br />on the closing of the bonds. In your response, please specifically include: <br />i. Proposed takedown on a maturity -by -maturity basis. <br />ii. Management Fee, if any. <br />iii. Expenses. In this section, clearly identify expense estimates. <br />RFP No. 21-025 Underwriting Services for Pension Refinancing Bonds Page 9 of 24 <br />
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